Fulda, Minnesota Bank Gives SBA Loan to Commercial And Industrial Machinery And Equipment Company

Get to know Fulda, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. First National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Lakefield, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from First National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
LAKEFIELD, MN 56150

SBA Loan Lender

FIRST NATIONAL BANK
109 N ST. PAUL AVE
FULDA, MN 56131

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

7/3/2007

Loan Approval Gross Amount

$91,000

Loan Approval from the SBA

Of the total $91,000 loan amount, the SBA guaranteed $77,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help create 2 new jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $91,000. How would you spend $91,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

How to Raise Money

Best Fulda, Minnesota Banks for Small Business

SBA Participating Banks in Minnesota